2150 Freeman Rd E - Medical FOR SALE


Fife, WA 98424
$8,895,000 USD
206-826-5787
2150 Freeman Rd E, Fife, WA for Sale
$8,895,000 USD
Medical - FOR SALE
1/5
null | 6.71% Cap Rate

2150 Freeman Rd E
Fife, WA 98424


HIGHLIGHTS

  • Established Behavioral Health Location
  • Available Operations
  • $1,000,000 Expansion Through BHF Grant
  • High-Quality 2012 Construction w/ Roof Warranty
  • In Place Cashflow
  • Located Nearby Multiple Hospitals

OVERVIEW

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale a Class A Owner/User Behavioral Health Facility in Fife, WA (Seattle-Tacoma MSA). The property is priced at $613/SF, well below the replacement cost to build a new facility of comparable size and quality. The facility was a build to suit for RI International in 2012 and has been operated as a behavioral health facility since then, providing a new owner the opportunity to commence operations at a location that has established relationships with surrounding hospitals and medical providers. RI International, the current tenant, is open to facilitating the transfer of its operations at this site to a new operator, providing a new owner the opportunity to commence its own operations at this site with very minimal downtime. The property was expanded from a 16- bed facility to a 32-bed facility through receiving a nearly $1,000,000 BHF Grant from the state of Washington, providing a fully renovated, class A facility for an owner/ user to occupy. The building features high quality masonry and a roof warranty through April 9, 2027. RI International’s current lease term expires November 30, 2029, providing an owner/user cashflow from the property while they develop their business plan. RI International will consider terminating the lease early if desired by the new owner. The location is within a 15-minute drive of multiple hospitals in Tacoma, Puyallup, Federal Way, and Auburn, providing natural referral sources for the facility and the ability to serve multiple communities.

FOR SALE DETAILS

PRICE

$8,895,000 USD

PRICE/SF

$613 USD /SF

CAP RATE

6.71%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Class A Owner/User Behavioral Health Facility

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

FIFE

APN/PARCEL ID

042008-2099

ASK ABOUT THIS PROPERTY

Clayton BrownMarcus & MillichapMore Info
206-826-5787

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Clayton BrownMarcus & MillichapMore Info
206-826-5787

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.